Tonight, I'm going to talk about Uber's initial public offering.
Over the past decade, Uber changed urban transportation, disrupted entrenched taxi industries, defied regulators the world over and beat back questions about how it was altering the nature of work. And everything is not right for the firm: in Spain for example, taxi drivers are regularly protesting: they are calling the Uber drivers "cockroaches".

A protest against Uber at porte Maillot in Paris.
On Friday, it was tamed by Wall Street.

The ride-hailing giant’s first day of trading on the New York Stock Exchange began with a drop from its initial public offering price of $45, and its stock closed down 7.6 percent. By the end of Friday, Uber’s market capitalization, accounting for stock options and restricted stock, stood at $76.5 billion — barely above the $76 billion that private investors pegged it at in August.
You are probably wondering how a company that never earnt money can be valued at 82 billion $. undoubtedly, It makes usman and Maher laugh.
It reported an operating loss of $3 billion in 2018 after losing more than $4 billion the previous year.
For Forbes too, Uber's IPO Valuation Makes No Sense:
https://www.forbes.com/sites/greatspeculations/2019/04/22/ubers-ipo-valuation-makes-no-sense/#2c3ede27540dBut this is a bigger problem. In an article released 2 days ago in Le monde, we learn that Wall Street doesn't attract profitable companies any more (in French):
https://www.lemonde.fr/economie/article/2019/05/11/wall-street-ne-fait-plus-rever-les-societes-americaines_5460806_3234.html